Marathon Petroleum Corporation (MPC) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on November 9. At the lunch break, shares of MPC have gained 3.59% to $43.32 after closing the day prior at $41.82. In the first two and a half hours of trading, the stock has gone as high as $43.53 and as low as $41.43. Today's rise has come with about 2.55 million shares changing hands, compared to an average 30-day volume of 6.14 million for Marathon Petroleum Corporation. The price is currently below the 30-day volume weighted average price of $42.28 for MPC.
The share appreciation gives the company a market capitalization of $22.07 billion based upon 527.82 million shares outstanding. It also means that MPC has a price-to-book ratio of 1.65:1.
In the past 52 weeks, shares of MPC have traded as low as $29.24 and as high as $59.99. Technical traders will take note that at $43.32, shares of MPC are trading above their 200-day MA at $38.13 and above their 50-day MA at $42.41. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is MPC?
Marathon Petroleum Corp is engaged in refining, marketing, retail and transportation ofpetroleum products in the United States. Its business segments are Refining & Marketing, Speedway and Midstream. The company’s 45440 employees are led by CEO Gary R. Heminger from the corporate headquarters at 539 South Main Street in Findlay, OH.
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